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Growth Corp Honors National Small Business Week

For more than 50 years, the U.S. Small Business Administration (SBA) has celebrated National Small Business Week, which recognizes the critical contributions of America’s small business owners.  This year, National Small Business Week takes place April 28 – May 4,...

35-YEAR COMMITMENT TO SMALL BUSINESSES

Growth Corp, a mission-driven Certified Development Company (CDC), is proud to continue its 35-year commitment to connecting local small businesses with access to quality capital.  As many businesses struggle to find affordable growth financing in this higher-rate...

SBA 504 Loans Qualify for CRA Credits

For banks interested in obtaining CRA Credits, there are new changes ahead that will make it easier!  On October 24, 2023, the Federal Reserve, the FDIC, and the OCC issued a Final Rule amending the agencies’ Community Reinvestment Act (CRA) regulations. The agencies...

SBA 504: It Matters Which CDC You Work With

When it comes to SBA 504 Loans, it matters which Certified Development Company (CDC) you work with.  Those who have investigated the U.S. Small Business Administration’s (SBA) 504 financing options have probably seen a reference to a Certified Development Company...

Growth Corp – Illinois’ 504 Lender of the Year

(July 18, 2023) – Growth Corp was named Illinois’ 504 Lender of the Year by the U.S. Small Business Administration (SBA).  This prestigious award recognizes Growth Corp’s commitment to economic development and job creation through facilitation of the 504 Loan...

SBA 504 Rates are Below Prime

SBA 504 Interest Rates are often below the Prime Interest Rate.  The average Prime Rate (August 1955 – Present) is 9.80%.  Today’s Prime Rate is 8.25%.  Conversely, today’s 25-Year Fixed SBA 504 Interest Rate is 6.02%.  While this is higher than the...